Question

at what rate of simple interest will Rupees 5000 amount to Rupees 6050 in 3 years. 4month?

Answer 1

Answer:

Principle = 5000Rs

Amount =  6050Rs

Simple Interest = Amount - Principle = 1050Rs

Time = 3 + 4/12 = 10/3 years

S.I. = (P * R * T)/100

1050 = (5000 * R * 10)/3*100

R   = 1050 * 3/ 50 * 10

R   = 6.3%